India Movers: Bharti Airtel, Educomp, L&T, MTNL, Suzlon, TCS

Mukesh Buch
26 Mar, 2013
New York City

Bharti Airtel is set to raises $250 million through dollar bonds. Educomp sold 50% stake sale in Eurokids International. L&T plan to buy 50% stake in Future Generali from Pantaloon. Suzlon raised $650 million to restructure debt holdings.

[R]6:00 PM Mumbai – Bharti Airtel is set to raises $250 million through dollar bonds. Educomp sold 50% stake sale in Eurokids International. L&T plan to buy 50% stake in Future Generali from Pantaloon. Suzlon raised $650 million to restructure debt holdings.[/R]

The Sensex Index edged up 23.11 to close at 18,704.53 The CNX Nifty rose 7.75 to close at 5,641.60.

Gainers & Losers

Ahmednagar Forgings Ltd declined 2.5% to Rs 104 after the company agreed to acquire First Forge Limited for cash but amount was not disclosed.

Bharti Airtel Limited climbed 3% to Rs 297.05 after the subsidiary was set to raise $250 million through dollar bonds and early in the month the company raised $1 billion 10-year bond at a coupon of 5.125%.

Educomp Solutions Limited dropped 2% to Rs 62.90 after the company completed 50% stake sale in Eurokids International Limited.

IRB Infrastructure Developers Ltd gained 1.4% to Rs 113.05 after a unit of the company signed concession agreement with National Highways Authority of India for a road project.

Larsen & Toubro Limited dropped 2.2% to Rs 1,337 after the company plan to buy 50% stake in the general insurance business of Future Generali from Pantaloon Retail.

Mahanagar Telephone Nigam Limited gained 0.6% to Rs 18.10 after the company board approved raising Rs 3,000 crore through sovereign guarantee bonds.

Suzlon Energy Limited rose 0.4% to Rs 13.50 after the company raised $650 million as a part of its debt restructuring.

Tata Consultancy Services Limited climbed 1.3% to Rs 1,565.60 and Capgemini won contracts worth $43 million each from Norway Post.

Seperately, the company received contract from Southern Water to implement a customer services and revenue transformation program.

Tech Mahindra Limited slipped 0.8% to Rs 1,038 after the company extended merge plan with Mahindra Satyam till September 30.

Uttam Galva Steels Limited declined 4.6% to Rs 76.55 after the steel maker set the price of Rs 76.48 a share to raise Rs 175 crore through qualified institutional placements.